• Portfolio simplified with sale of OPS and Closures completed
• Organic growth focus with investments in Cans capacity expansion and Glass furnace modernization
• Strong balance sheet enables shareholder distributions

Orora Ltd has reported its 1H25 financial results, delivering solid performance with revenue growth of 64.8% and EBIT growth of 24.6% compared to the prior corresponding period. The key drivers were the acquisition of Saverglass, which contributed six months of earnings compared to one month in the prior period, and continued growth in the Australasian Cans business. The company has simplified its portfolio, completing the sale of its OPS and Closures businesses, and is now focused on its global beverage packaging operations in Glass and Cans. This has strengthened the company's balance sheet, enabling it to pursue organic growth opportunities, including capacity expansions in Cans and furnace modernization in Glass. In the Glass segment, Orora has announced the closure of the G1 furnace at its Gawler facility in Australia due to structural decline in the commercial wine market. This will improve furnace utilization and lower unit costs. The company also plans to modernize its Ghlin plant in Belgium to become the most economic facility for European wine bottle production.In Cans, Orora is investing in capacity expansions at its Revesby and Rocklea facilities, which are expected to add over 30% to the network's total capacity and drive $50 million in incremental EBIT by FY30.The company remains committed to maintaining an investment grade balance sheet, with a focus on organic growth opportunities and efficient distribution of surplus capital to shareholders through dividends and on-market buybacks.

Orora expects FY25 capex to be approximately $340-360 million, including $184 million for the completion of the G3 furnace rebuild project. The company's long-run base capex is expected to be in the range of $90-130 million per year, inclusive of Saverglass.

Orora is focused on organic growth opportunities, including capacity expansions in Cans and furnace modernization in Glass, to drive future earnings growth. The company remains committed to maintaining an investment grade balance sheet and efficiently distributing surplus capital to shareholders.